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The Unbound Economy - Project Syndicate RSS-Feedhttps://www.project-syndicate.org/rss/kenneth-rogoff
1441040The Trump Boom?Exactly how much US President-elect Donald Trump’s policies will raise output and inflation will depend on how close the US economy is to full capacity. If the economy really does have massive quantities of underutilized and unemployed resources, the effect of Trumponomics on growth could be considerable.]]>https://www.project-syndicate.org/commentary/trump-business-confidence-growth-boom-by-kenneth-rogoff-2016-1229https://www.project-syndicate.org/commentary/trump-business-confidence-growth-boom-by-kenneth-rogoff-2016-12https://www.project-syndicate.org/commentary/trump-business-confidence-growth-boom-by-kenneth-rogoff-2016-12
Wed, 07 Dec 2016 09:49:56 +0000Kenneth RogoffBig Danger at the Lower BoundMarkets nowadays are fixated on how high the US Federal Reserve will raise interest rates in the next 12 months. This is dangerously shortsighted: the real concern ought to be how far it could cut rates in the next deep recession.]]>https://www.project-syndicate.org/commentary/no-room-for-rate-cuts-in-recession-by-kenneth-rogoff-2016-1121https://www.project-syndicate.org/commentary/no-room-for-rate-cuts-in-recession-by-kenneth-rogoff-2016-11https://www.project-syndicate.org/commentary/no-room-for-rate-cuts-in-recession-by-kenneth-rogoff-2016-11
Wed, 02 Nov 2016 12:39:01 +0000Kenneth RogoffIs the Fed Playing Politics?In his recent debate with Hillary Clinton, Donald Trump pressed his claim that US Federal Reserve Chair Janet Yellen is applying overdoses of monetary stimulus to hypnotize voters into believing that economic recovery is underway. Such political manipulation has occurred before, but there is no evidence of it now.]]>https://www.project-syndicate.org/commentary/trump-accuses-fed-of-playing-politics-by-kenneth-rogoff-2016-1014https://www.project-syndicate.org/commentary/trump-accuses-fed-of-playing-politics-by-kenneth-rogoff-2016-10https://www.project-syndicate.org/commentary/trump-accuses-fed-of-playing-politics-by-kenneth-rogoff-2016-10
Mon, 03 Oct 2016 09:49:43 +0000Kenneth RogoffThe Case Against CashThe world is awash in paper currency, with major country central banks pumping out hundreds of billions of dollars’ worth each year, mainly in very large denomination notes such as the $100 bill. And all this cash is facilitating growth mainly in the underground economy, not the legal one.]]>https://www.project-syndicate.org/commentary/dangers-of-paper-currency-by-kenneth-rogoff-2016-0993https://www.project-syndicate.org/commentary/dangers-of-paper-currency-by-kenneth-rogoff-2016-09https://www.project-syndicate.org/commentary/dangers-of-paper-currency-by-kenneth-rogoff-2016-09
Mon, 05 Sep 2016 11:50:10 +0000Kenneth RogoffAmerica’s Looming Debt DecisionThe US government should not operate like a bank or a hedge fund, loading up on short-term debt to fund long-term projects. With net US government debt already running at 82% of national income, the fiscal costs of a fast upward shift in interest rates could be massive.]]>https://www.project-syndicate.org/commentary/us-debt-long-term-borrowing-by-kenneth-rogoff-2016-0846https://www.project-syndicate.org/commentary/us-debt-long-term-borrowing-by-kenneth-rogoff-2016-08https://www.project-syndicate.org/commentary/us-debt-long-term-borrowing-by-kenneth-rogoff-2016-08
Mon, 08 Aug 2016 07:59:53 +0000Kenneth RogoffBritain’s Democratic FailureThe real lunacy of the UK’s vote to leave the European Union was not that British leaders dared to ask voters to weigh the benefits of membership against the immigration pressures it presents. Rather, it was the absurdly low bar for exit: a simple majority.]]>https://www.project-syndicate.org/commentary/brexit-democratic-failure-for-uk-by-kenneth-rogoff-2016-06151https://www.project-syndicate.org/commentary/brexit-democratic-failure-for-uk-by-kenneth-rogoff-2016-06https://www.project-syndicate.org/commentary/brexit-democratic-failure-for-uk-by-kenneth-rogoff-2016-06
Fri, 24 Jun 2016 15:30:06 +0000Kenneth RogoffThe Overselling of Financial Transaction TaxesHowever November’s US presidential election turns out, one proposal that will likely live on is the introduction of a financial transaction tax. But a properly designed levy can be no more than a small part of a much larger strategy, whether for reforming the tax system or for regulating financial markets.]]>https://www.project-syndicate.org/commentary/financial-transaction-tax-shortcomings-by-kenneth-rogoff-2016-0621https://www.project-syndicate.org/commentary/financial-transaction-tax-shortcomings-by-kenneth-rogoff-2016-06https://www.project-syndicate.org/commentary/financial-transaction-tax-shortcomings-by-kenneth-rogoff-2016-06
Mon, 06 Jun 2016 08:59:43 +0000Kenneth RogoffEmerging Markets Should Go for the GoldFor some time, rich countries have argued that it is in everyone’s collective interest to demonetize gold. But there is a good case to be made that a shift in emerging markets toward accumulating gold would help the international financial system function more smoothly and benefit everyone.]]>https://www.project-syndicate.org/commentary/gold-as-emerging-market-reserve-asset-by-kenneth-rogoff-2016-0524https://www.project-syndicate.org/commentary/gold-as-emerging-market-reserve-asset-by-kenneth-rogoff-2016-05https://www.project-syndicate.org/commentary/gold-as-emerging-market-reserve-asset-by-kenneth-rogoff-2016-05
Tue, 03 May 2016 08:19:52 +0000Kenneth RogoffAnti-Trade America?The rise of anti-trade populism in the US presidential election campaign portends a dangerous retreat from the country's role in world affairs. In the name of reducing inequality at home, candidates in both parties would stymie the aspirations of hundreds of millions of people in the developing world to join the middle class.]]>https://www.project-syndicate.org/commentary/us-presidential-campaign-protectionist-rhetoric-by-kenneth-rogoff-2016-0471https://www.project-syndicate.org/commentary/us-presidential-campaign-protectionist-rhetoric-by-kenneth-rogoff-2016-04https://www.project-syndicate.org/commentary/us-presidential-campaign-protectionist-rhetoric-by-kenneth-rogoff-2016-04
Thu, 07 Apr 2016 09:59:36 +0000Kenneth RogoffThe Fear Factor in Global MarketsThe phenomenal market volatility of the past year owes much to genuine risks and uncertainties about factors such as Chinese growth, European banks, and the oil glut. Yet, from a macroeconomic perspective, the fundamentals are just not that bad.]]>https://www.project-syndicate.org/commentary/fear-and-market-volatility-by-kenneth-rogoff-2016-0327https://www.project-syndicate.org/commentary/fear-and-market-volatility-by-kenneth-rogoff-2016-03https://www.project-syndicate.org/commentary/fear-and-market-volatility-by-kenneth-rogoff-2016-03
Thu, 10 Mar 2016 13:19:57 +0000Kenneth RogoffThe Great Escape from ChinaIt might seem odd that a country running a $600 billion trade surplus in 2015 should be worried about currency weakness. But a combination of factors, including slowing economic growth and a gradual relaxation of restrictions on investing abroad, has unleashed a torrent of capital outflows.]]>https://www.project-syndicate.org/commentary/china-devaluation-capital-flight-by-kenneth-rogoff-2016-0213https://www.project-syndicate.org/commentary/china-devaluation-capital-flight-by-kenneth-rogoff-2016-02https://www.project-syndicate.org/commentary/china-devaluation-capital-flight-by-kenneth-rogoff-2016-02
Tue, 02 Feb 2016 08:30:06 +0000Kenneth RogoffExtreme Weather and Global GrowthUntil recently, the usual thinking among macroeconomists has been that short-term weather fluctuations don’t matter much for economic activity. But recent economic research, bolstered by an exceptionally strong El Niño, has prompted reconsideration of this view.]]>https://www.project-syndicate.org/commentary/extreme-weather-impact-global-economy-by-kenneth-rogoff-2016-018https://www.project-syndicate.org/commentary/extreme-weather-impact-global-economy-by-kenneth-rogoff-2016-01https://www.project-syndicate.org/commentary/extreme-weather-impact-global-economy-by-kenneth-rogoff-2016-01
Mon, 11 Jan 2016 14:50:03 +0000Kenneth RogoffOil Prices and Global GrowthOil prices were not as consequential for global growth in 2015 as seemed likely at the start of the year, and strong reserve positions and relatively conservative macroeconomic policies have enabled most major producers to avoid falling into crisis. But next year could be different, and not in a good way – especially for producers.]]>https://www.project-syndicate.org/commentary/oil-prices-global-growth-by-kenneth-rogoff-2015-1228https://www.project-syndicate.org/commentary/oil-prices-global-growth-by-kenneth-rogoff-2015-12https://www.project-syndicate.org/commentary/oil-prices-global-growth-by-kenneth-rogoff-2015-12
Mon, 14 Dec 2015 10:30:13 +0000Kenneth RogoffThe Fed’s Communication BreakdownNothing describes the US Federal Reserve’s current communication policy better than the old saying that a camel is a horse designed by committee. Indeed, the Fed’s communication strategy is a mess, and cleaning it up is far more important than the exact timing of its decision to exit near-zero interest rates.]]>https://www.project-syndicate.org/commentary/federal-reserve-poor-communication-by-kenneth-rogoff-2015-1135https://www.project-syndicate.org/commentary/federal-reserve-poor-communication-by-kenneth-rogoff-2015-11https://www.project-syndicate.org/commentary/federal-reserve-poor-communication-by-kenneth-rogoff-2015-11
Mon, 02 Nov 2015 13:48:52 +0000Kenneth RogoffThe French Exception?A healthy French economy would do wonders to help lift the eurozone out of its malaise and could provide an example to countries everywhere of how inclusive capitalism can work. But that assumes that the government will embrace the structural reforms that France’s economy so desperately needs.]]>https://www.project-syndicate.org/commentary/french-model-inclusive-capitalism-by-kenneth-rogoff-2015-1027https://www.project-syndicate.org/commentary/french-model-inclusive-capitalism-by-kenneth-rogoff-2015-10https://www.project-syndicate.org/commentary/french-model-inclusive-capitalism-by-kenneth-rogoff-2015-10
Wed, 07 Oct 2015 10:30:09 +0000Kenneth RogoffThe Age of Bobby FischerThe new Hollywood movie “Pawn Sacrifice” depicts the Cold War match between the tormented chess prodigy and Russian world champion Boris Spassky. It also makes one wonder whether a creative genius like Fischer, deeply troubled yet supremely functional at the chessboard, would be able to exist in today’s unforgiving online world.]]>https://www.project-syndicate.org/commentary/bobby-fischer-movie-review-by-kenneth-rogoff-2015-096https://www.project-syndicate.org/commentary/bobby-fischer-movie-review-by-kenneth-rogoff-2015-09https://www.project-syndicate.org/commentary/bobby-fischer-movie-review-by-kenneth-rogoff-2015-09
Wed, 16 Sep 2015 13:20:06 +0000Kenneth RogoffThe Art of Capital FlightFor emerging-market investors, art has become a critical tool for moving and hiding wealth, which has been a major factor in the spectacular rise in auction prices of the last several years. So, with emerging-market economies from Russia to Brazil mired in recession, and China slowing rapidly, is the art bubble about to burst?]]>https://www.project-syndicate.org/commentary/china-capital-flight-by-kenneth-rogoff-2015-095https://www.project-syndicate.org/commentary/china-capital-flight-by-kenneth-rogoff-2015-09https://www.project-syndicate.org/commentary/china-capital-flight-by-kenneth-rogoff-2015-09
Fri, 04 Sep 2015 13:50:05 +0000Kenneth RogoffA New Deal for Debt Overhangs?The IMF’s acknowledgement that Greece’s debt is unsustainable could prove to be a watershed moment for the global financial system. Clearly, heterodox policies to deal with high debt burdens need to be taken more seriously, even in some advanced countries.]]>https://www.project-syndicate.org/commentary/greece-debt-overhang-by-kenneth-rogoff-2015-0825https://www.project-syndicate.org/commentary/greece-debt-overhang-by-kenneth-rogoff-2015-08https://www.project-syndicate.org/commentary/greece-debt-overhang-by-kenneth-rogoff-2015-08
Tue, 04 Aug 2015 11:00:17 +0000Kenneth RogoffWhy the Greek Bailout FailedAs the crisis in Greek demonstrates, imposing structural reforms from outside a country is unlikely to succeed without the willingness of a capable government. If a bailout program requires a wholesale change in a country’s economic model, moving swiftly to write down outstanding debts may be the more sensible option.]]>https://www.project-syndicate.org/commentary/why-the-greek-bailout-failed-by-kenneth-rogoff-2015-0746https://www.project-syndicate.org/commentary/why-the-greek-bailout-failed-by-kenneth-rogoff-2015-07https://www.project-syndicate.org/commentary/why-the-greek-bailout-failed-by-kenneth-rogoff-2015-07
Wed, 01 Jul 2015 10:20:06 +0000Kenneth RogoffThe Right Food FightThe question of the extent to which governments should regulate or tax addictive behavior has long framed public debate about alcohol, tobacco, gambling, and other goods and services. And now, in the US – the mother of global consumer culture – the debate has turned to the fight against the epidemic of childhood obesity.]]>https://www.project-syndicate.org/commentary/childhood-obesity-epidemic-by-kenneth-rogoff-2015-0620https://www.project-syndicate.org/commentary/childhood-obesity-epidemic-by-kenneth-rogoff-2015-06https://www.project-syndicate.org/commentary/childhood-obesity-epidemic-by-kenneth-rogoff-2015-06
Fri, 12 Jun 2015 09:30:09 +0000Kenneth Rogoff